WASHINGTON (dpa-AFX) - Consol Energy Inc. (CNX) and Noble Energy, Inc. (NBL)
Monday jointly announced that the two companies have entered into a definitive
agreement to separate their Marcellus Shale 50-50 Joint Venture.
As per the separation of...

In one sense, the natural gas extraction business is much like the real estate business: The key is "location, location, location." And prime locations have put Range Resources, EQT, Rice Energy, Chevron, and CONSOL Energy on top in Pennsylvania.

Those involved in a West Virginia University fracking project are praising its success after the first year. The Exponent Telegram reports WVU began the Marcellus Shale Energy Environmental Laboratory project last June. The study is meant to give...

“This industry has come here, they're not asking for handouts...they're hiring lots of people…paying them very good wages…They've paid $2 billion in state taxes since they've been here. They've paid $855 million in the last four years in...

The Marcellus Shale is a type of geological formation containing extractable Natural gas. This shale is unique in that the only geographical region where it exists runs from West Virginia through Western Pennsylvania up to upstate New York. Marcellus Shale has always been known to have obtainable natural gas, but, years ago, oil companies thought it unproductive to drill. However, high oil prices, newer drilling technology, and encouraging results from similar shale formations in Texas and elsewhere have changed this opinion.[1]

Now, companies in the natural gas industry are betting big money that this shale can be tapped for huge profits.[3] Estimates by Terry Englander, a geoscience professor at Pennsylvania State University, and Gary Lash, a geology professor at the State University of New York at Fredonia indicate that the West Virginia to New York Marcellus Shale formation has around 500 trillion cubic feet of natural gas.[4] Of that volume, they think that around 10% of the gas is recoverable, providing 50 trillion cubic feet of gas, which would be enough to supply US demands for two full years and have a wellhead value of about one trillion dollars.[5] For this reason, Oil Companies, such as Chesapeake Energy (CHK) and Cabot Oil & Gas (COG) are leasing large amounts of land for prospective drilling.[6]